IL&FS Mutual Fund pays ₹314 crore to debt fund investors
5 years, 8 months ago

IL&FS Mutual Fund pays ₹314 crore to debt fund investors

Live Mint  

IL&FS Mutual Fund Tuesday paid ₹314 crore to investors in one of its infrastructure debt fund, making on-time redemption, according to a release. The money was paid to investors in IL&FS Mutual Fund's first debt fund series -- IL&FS Infrastructure Debt Fund Series 1-A -- that is due Tuesday. Two funds in the same series -- IL&FS Infrastructure Debt Fund Series 1B and IL&FS Infrastructure Debt Fund Series 1C -- have maturities of 7 years and 10 years, respectively, the release said. Post redemption, IL&FS Mutual Fund would continue to manage assets under management worth around ₹1,800 crore across the seven closed ended schemes.

Debt Idf Scheme Fund Investors 314 Crore  infrastructure  fund  investors  series  ilfs  314  mutual  debt  redemption  schemes  pays  scheme  crore

History of this topic

Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos
2 years, 11 months ago

Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos

Live Mint  

NEW DELHI: Here are the top 10 stocks that could be in focus on Monday: State Bank of India: The country's largest lender expects to recover around ₹8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal ending 31 March. Future Retail: Lenders to Future group have agreed to halt the sale of Future Retail Ltd’s …

Mutual funds folio count surges by 18 lakh in June quarter
4 years, 5 months ago

Mutual funds folio count surges by 18 lakh in June quarter

India TV News  

The mutual fund industry has added 18 lakh investor accounts in three months ended June 30, taking the total tally to 9.15 crore, amid volatile market conditions. According to data from Association of Mutual Funds in India, the number of folios rose by 17.96 lakh to 9,15,42,092 at the end of June quarter from 8,97,46,051 at the end of March …

IL&FS Transportation Incurs Rs 17,000 cr Standalone Loss in FY20
4 years, 7 months ago

IL&FS Transportation Incurs Rs 17,000 cr Standalone Loss in FY20

News 18  

IL&FS Transportation Networks, a group company of the troubled IL&FS Group, on Friday reported a standalone loss of Rs 17,000.32 crore for fiscal year 2019-20, amid COVID-19 disruptions. The company had clocked a standalone profit of Rs 251.76 crore during the fiscal 2018-19, it said in a regulatory filing. During the last fiscal, the company saw a sharp decline in …

IL&FS to address major portion of outstanding debt by July, says Uday Kotak
5 years ago

IL&FS to address major portion of outstanding debt by July, says Uday Kotak

Live Mint  

IL&FS Group is working towards addressing a 'significant portion' of the outstanding debt of ₹94,000 crore by July 2020, its chairman Uday Kotak said on Tuesday. "He said the group has received binding bid for Chinese road asset that will resolve nearly ₹1,600 crore debt and additional ₹980 crore towards equity value for the shareholding entity. The group has sold …

IL & FS records over Rs 22,000 crore loss in 2019
5 years, 1 month ago

IL & FS records over Rs 22,000 crore loss in 2019

India TV News  

Crisis-ridden IL&FS on Wednesday reported a net standalone loss of Rs 22,527 crore for the financial year 2018-19, compared to a net profit of Rs 333 crore during the previous year. The company posted total revenue of Rs 824 crore during the period under review, as against Rs 1,734 crore in the previous year, it said. As on March 31, …

IL&FS receives bids of Rs 13,000 crore for 10 road assets
5 years, 4 months ago

IL&FS receives bids of Rs 13,000 crore for 10 road assets

India TV News  

Crisis-ridden infrastructure financing major IL&FS has received binding financial offers totalling nearly Rs 13,000 crore for 10 of its domestic road assets. In addition to this, the IL&FS Group entities continue to hold rights to receive claims with gross value of over Rs 1,900 crore filed with various concession authorities in respect of these assets. "The combined value of bids …

SC stays payment of ₹380 crore by IL&FS subsidiary
5 years, 6 months ago

SC stays payment of ₹380 crore by IL&FS subsidiary

Live Mint  

New Delhi: The Supreme Court on Wednesday directed IL&FS Securities Services Ltd to approach the appropriate court against a payment commitment of ₹380 crore because of fraudulent trades by Allied Financial Services Private Limited, a stock broker with whom IL&FS Securities Services Ltd had signed a clearing agreement. “Extension of the time of payment won't create havoc in the market,” …

Amid liquidity crisis, mutual funds preferred state bonds over central papers
5 years, 8 months ago

Amid liquidity crisis, mutual funds preferred state bonds over central papers

Live Mint  

Mumbai: A few months after the liquidity crisis erupted in September, mutual funds switched a chunk of their sovereign bond holdings from central government securities to state development loans, showed data from the Reserve Bank of India. According to the data, mutual funds held ₹36,851 crore worth government securities in December 2018, against ₹78,999 crore in September 2018, and ₹70,241 …

Govt to seek special dispensation from RBI to defer provisioning of loans to IL&FS group firms; asset monetisation gains pace
5 years, 11 months ago

Govt to seek special dispensation from RBI to defer provisioning of loans to IL&FS group firms; asset monetisation gains pace

Firstpost  

Following the crisis at IL&FS late last year that raised concerns over liquidity in the system, the corporate affairs ministry had superseded its board. New Delhi: The government will soon approach the Reserve Bank of India seeking a special dispensation for deferment of provisioning requirements for bank loans extended to some IL&FS group firms amid ongoing efforts to monetise assets …

Single solution for IL&FS crisis, debt not possible, NCLT told
6 years, 1 month ago

Single solution for IL&FS crisis, debt not possible, NCLT told

Live Mint  

Mumbai: In its latest status report to the National Company Law Tribunal, the new board of Infrastructure Leasing and Financial Services has said that finding a single solution for the IL&FS crisis and its ₹ 91,000 crore of debt is not possible. The only options left, the IL&FS board said, was hiving off and selling entire business verticals to willing …

A dozen suitors for IL&FS stake sale in two subsidiaries
6 years, 1 month ago

A dozen suitors for IL&FS stake sale in two subsidiaries

Live Mint  

Mumbai: Infrastructure Leasing & Financial Services has received more than a dozen expressions of interest for acquiring the troubled financier’s stakes in subsidiaries IL&FS Securities Services Ltd and ISSL Settlement & Transaction Services Ltd, the company said in a press release. “IL&FS has received a strong response to its asset monetization process, initiated a fortnight ago, towards developing a resolution …

Mutual fund folio numbers hit record high of 8 crore
6 years, 1 month ago

Mutual fund folio numbers hit record high of 8 crore

Live Mint  

New Delhi: Growing investors’ interest in mutual fund has led to an addition of nearly 77 lakh new folios in the first seven months of the current fiscal, taking the total to an all-time high of around 8 crore at the end of October. According to the data from Association of Mutual Funds in India on total investor accounts with …

IL&FS: Emerging India's very own robber baron'
6 years, 3 months ago

IL&FS: Emerging India's very own robber baron'

Deccan Chronicle  

India is deservedly an “emerging market”. Just like in China, where public entities boost private profits, the Life Insurance Corporation of India, a public sector insurer, with assets in excess of Rs 25 trillion, chose to become IL&FS’ equity investor with a 25.3 per cent share. In it’s heyday, IL&FS was a private company with chutzpah — the darling of …

IL&FS misses more debt payments
6 years, 3 months ago

IL&FS misses more debt payments

Live Mint  

Mumbai/Singapore: Infrastructure Leasing & Financial Services Ltd. is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems. “This amount is peanuts in the big picture, that’s how bad the situation is at the group,” said Rajiv Kochhar, chief executive officer of …

The untold tale behind government’s shock takeover of IL&FS
6 years, 3 months ago

The untold tale behind government’s shock takeover of IL&FS

Live Mint  

Mumbai: With the future stability of the Indian financial system on the line, executives running a giant infrastructure lender gathered at the company’s glassy, modernist headquarters in Mumbai and hammered out an ambitious restructuring plan last Saturday to manage a $12.6 billion debt burden after a string of defaults. Jaitley’s team on Sunday sent a confidential note to the Ministry …

Contagion no longer the biggest problem in IL&FS saga
6 years, 3 months ago

Contagion no longer the biggest problem in IL&FS saga

Live Mint  

Mumbai/Hong Kong: The government’s shock seizure of a troubled shadow bank on Monday means contagion’s off the table. The government’s move on IL&FS is “a step in the right direction and will calm investor nerves to some extent,’ said Lakshmi Iyer, chief investment officer of debt at Mumbai-based Kotak Mahindra Asset Management Co. In terms of ending the contagion risk …

IL&FS asset sale plan hangs in the balance
6 years, 3 months ago

IL&FS asset sale plan hangs in the balance

Live Mint  

Mumbai: The government’s move to supersede the board of Infrastructure Leasing and Financial Services Ltd and order a probe has clouded the view as to when the debt-laden lender would be able to proceed with its capital-raising, restructuring and asset monetization plans. IL&FS had already received concrete offers for several of its assets, which include road projects housed under group …

IL&FS fiasco singeing mutual fund investors: What happened to fund houses’ much-vaunted research capabilities?
6 years, 3 months ago

IL&FS fiasco singeing mutual fund investors: What happened to fund houses’ much-vaunted research capabilities?

Firstpost  

That IL&FS would default to its bondholders could have been easily ferreted out had the fund houses upped their ante on the back of their famed research capabilities. How did mutual fund houses invest in IL&FS in such a big way knowing pretty well that it suffered from a highly pronounced asset-liability mismatch? How did the mutual funds invest despite …

Govt pledges liquidity support to IL&FS group
6 years, 3 months ago

Govt pledges liquidity support to IL&FS group

Live Mint  

New Delhi: After moving the National Company Law Tribunal to replace the board of distressed investment firm Infrastructure Leasing & Financial Services Ltd. with a state appointed one, the government on Monday said the company would be provided liquidity support while a turnaround plan was executed. “The government stands fully committed to ensure that needed liquidity is arranged for IL&FS …

IL&FS to raise ₹15000 crore, hike borrowing limit to ₹35000 crore
6 years, 3 months ago

IL&FS to raise ₹15000 crore, hike borrowing limit to ₹35000 crore

Live Mint  

Mumbai: Infrastructure Leasing & Financial Services Ltd, whose recent debt defaults sparked concern about contagion in the financial markets, secured a lifeline after shareholders approved its plans to raise money through debt and equity. Stockholders green-lit IL&FS’s plans to raise as much as ₹ 15,000 crore through a non-convertible debt issue, hike the firm’s borrowing limit by 40% to ₹ …

Cash-strapped IL&FS Financial Services declares 7 fresh defaults of Rs 395 cr
6 years, 3 months ago

Cash-strapped IL&FS Financial Services declares 7 fresh defaults of Rs 395 cr

Firstpost  

New Delhi: IL&FS Financial Services Thursday said it has defaulted on seven fresh payment obligations worth Rs 395.46 crore. These defaults were in respect of five bank loans totalling Rs 239.50 crore, term deposit obligation of Rs 103.53 crore and short-term deposit worth Rs 52. These defaults were in respect of five bank loans totalling Rs 239.50 crore, term deposit …

IL&FS Financial Services declares fresh defaults of ₹395 crore
6 years, 3 months ago

IL&FS Financial Services declares fresh defaults of ₹395 crore

Live Mint  

New Delhi: IL&FS Financial Services on Thursday said it has defaulted on seven fresh payment obligations worth ₹ 395.46 crore. These defaults were in respect of five bank loans totalling ₹ 239.50 crore, term deposit obligation of ₹ 103.53 crore and short term deposit worth ₹ 52.43 crore. In bank loan repayments, it defaulted on ₹ 100.60 crore and ₹ …

IL&FS crisis: Eight charts present financials, other details of cash-strapped infrastructure conglomerate
6 years, 3 months ago

IL&FS crisis: Eight charts present financials, other details of cash-strapped infrastructure conglomerate

Firstpost  

The IL&FS has come under the scanner of multiple regulators, including SEBI, for alleged defaults related to financial disclosures and corporate governance. IL&FS, which is credited for building the longest tunnel in the country, is sitting on a debt pile of around Rs 91,000 crore with IL&FS alone having nearly Rs 35,000 crore, IL&FS Financial Services Rs 17,000 crore, and …

The IL&FS knot and the effect on debt mutual funds
6 years, 3 months ago

The IL&FS knot and the effect on debt mutual funds

Live Mint  

Over the last few days, there has been a lot of news and some noise over the 11th-hour downgrade of debt securities issued by some IL&FS group companies. Roughly, ₹ 1,300 crore of total exposure in IL&FS securities was reflecting in short duration funds, including liquid funds that held around ₹ 400 crore. Capital markets regulator Securities and Exchange Board …

IL&FS, 40 of its subsidiaries move National Company Law Tribunal seeking to restructure debt
6 years, 3 months ago

IL&FS, 40 of its subsidiaries move National Company Law Tribunal seeking to restructure debt

Firstpost  

In a letter to its employees, IL&FS had claimed that if funds worth Rs 16,000 crore stuck with concession authorities were released on time, it would not have landed in this mess. Infrastructure Leasing & Financial Services Limited, an Indian infrastructure development and finance company, which has defaulted on a series of interest payments, has along with its subsidiaries moved …

Rise and fall of IL&FS: A bailout is a blunder; India's debt trapped infra financiers are walking on a minefield
6 years, 3 months ago

Rise and fall of IL&FS: A bailout is a blunder; India's debt trapped infra financiers are walking on a minefield

Firstpost  

Whatever the final outcome, IL&FS will never be the same institution again. Regulators – the Reserve Bank of India and the Securities & Exchange Board of India – and the State Bank of India have made reassuring noises about the ‘temporary’ nature of its liquidity problems, and asset managers at some large mutual funds have suggested that there’s nothing to …

IL&FS crises deepens, financial services arm defaults on CP
6 years, 3 months ago

IL&FS crises deepens, financial services arm defaults on CP

Live Mint  

Mumbai: For the third time in a month, crippled infrastructure conglomerate IL&FS Financial Services Monday defaulted on interest payments on commercial papers. Last Friday, its managing director and chief executive Ramesh C Bawa and some key board members had resigned amid crisis in the IL&FS group for alleged defaults in loan payments and corporate governance issues. Earlier this month, it …

IL&FS independent of govt; capable of handling its issues: Economic affairs secretary Subhash Chandra Garg
6 years, 3 months ago

IL&FS independent of govt; capable of handling its issues: Economic affairs secretary Subhash Chandra Garg

Firstpost  

New Delhi: Infrastructure Leasing & Financial Services, which has defaulted on a series of interest payments, needs to resolve issues on its own, Economic Affairs Secretary Subhash Chandra Garg said. On 4 September, it came to light that IL&FS had defaulted on a short-term loan of Rs 1,000 crore from Sidbi, while a subsidiary has also defaulted on Rs 500 …

IL&FS rot needs to be stopped from spreading
6 years, 3 months ago

IL&FS rot needs to be stopped from spreading

Live Mint  

A tad late, but the message is finally reaching India’s regulators: Infrastructure lender IL&FS is not a business that can be allowed to fail without consequences. Some of the group’s finance companies are now missing repayments on short-term paper, even as the unlisted parent’s owners, including state-run Life Insurance Corp. of India, dawdle over an emergency infusion of funds. The …

IL&FS: Somebody has to catch this falling knife soon
6 years, 3 months ago

IL&FS: Somebody has to catch this falling knife soon

Live Mint  

What is the way ahead for Infrastructure Leasing & Financial Services Ltd? Moody’s Investors Service estimated that IL&FS’s bank loan exposure was 0.5-0.7% of banking system loans, while its outstanding debentures and commercial paper accounted for 1% and 2%, respectively of the domestic corporate debt market. While nobody knows what spooked the markets, one fear was funds holding IL&FS in …

IL&FS plans fire sale of financial services unit
6 years, 3 months ago

IL&FS plans fire sale of financial services unit

Live Mint  

Mumbai/New Delhi: Infrastructure Leasing and Financial Services Ltd is planning to sell a majority stake in its financial services unit and additional assets worth ₹ 4,500 crore to pay down debts as the company rushes to meet its obligations and avoid bankruptcy. IL&FS has also asked the government to clear dues worth as much as ₹ 16,000 crore for work …

Lone Star, I Squared Capital to buy out IL&FS’ stressed assets
6 years, 4 months ago

Lone Star, I Squared Capital to buy out IL&FS’ stressed assets

Live Mint  

Mumbai: Infrastructure Leasing and Financial Services, the parent to a cluster of companies in various infrastructure verticals, hopes to raise $2 billion from the sale of its assets. “The funds that are interested in our assets are I Squared Capital through its platform Cube Highways, US-based stressed asset specialist Lone Star, National Infrastructure Investment Fund, etc.”, K Ramchand, CEO, IL&FS, …

IL&FS plans to divest assets, cut debt by up to ₹30,000 crore
6 years, 4 months ago

IL&FS plans to divest assets, cut debt by up to ₹30,000 crore

Live Mint  

Mumbai: Debt-saddled infra lender IL&FS on Wednesday said its board has approved the ₹ 4,500-crore rights issue and it plans to reduce its loan burden by up to ₹ 30,000 crore by divesting assets in the next 18 months. In a statement, the company said its board has approved “a rights issue of 30 crore equity shares at ₹ 150 …

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